A Chicago trading firm is teaming up with a group of crypto exchanges to stamp out manipulation

Trading Technologies, the Chicago-based tech provider, is teaming up with a group of crypto exchanges to stamp out manipulation.

The news comes as a number of crypto exchanges are starting to take market fraud more seriously.

Trading Technologies, the Chicago-based firm, announced Tuesday a partnership with a group of cryptocurrency exchanges to stamp out manipulation on their platforms.

TT has not been a stranger to the crypto market, having previously partnered with Coinbase to allow professional clients to trade bitcoin futures and the underlying asset side-by-side on TT's trading platform. Now, Coinfloor, a UK crypto exchange operator, will be using the firm's so-called Score technology to monitor its markets for manipulation and other unusual activity. TT will allow traders on its platform to access the Coinfloor EX marketplace, the firm said.

In addition to catching behavior such as spoofing, TT's machine learning tech will be able to adapt over time to squelch practices ranging from quote stuffing, a way to overwhelm a venue with orders, to washing trading, buying and selling simultaneously to give the impression of a deeper market. Outside of crypto, Score users include prop traders, brokers, hedge funds, and other financial-services firms.

Trading Technologies chief executive officer Rick Lane said the partnership will help further draw in professional traders to the space.

"We anticipate Coinfloor's use of TT Score to help ensure market integrity coupled with our forthcoming connection to the CoinfloorEX marketplace will drive additional market participation by institutional and professional traders," Lane said.